The following is a summary of the Currency Exchange International, Corp. (CURN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Revenue for Q1 2024 reached $18.1 million, a 7% increase from the same period last year, mainly due to new customer acquisition and a resurgence in travel.

• The company's operating expenses increased by 12%, largely due to an increase in salaries and benefits.

• Net operating income recorded was $2.2 million, indicating a decrease of 18% from the previous year.

• Net earnings before tax reached $1.3 million, down by 20% from the prior year period.

• The quarter saw an income tax expense of about $416,000.

Business Progress:

• Throughout Q1 2024, four new airport agent locations were added, increasing the total to 49.

• Significant progress has been made in implementing Kyriba, a treasury management system, and Alessa, an AML compliance software.

• The company returned value to shareholders by buying back 20,200 shares as part of its normal course issuer bid.

• Currency Exchange International expanded its market reach through new locations, increased geographical reach of its online foreign exchange platform, and the addition of Alabama, making it the 41st state to support the platform.

• The Group's capital base increased to $80.5 million, coupled with a 13% EBITDA margin for the first quarter of 2024.

More details: CURRENCY EXCHANGE INTL CORP IR

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